Rigoblock Decentralized Blockchain Crypto Asset Manager’s GRG Token Sale Launches
Rigoblock is a blockchain network for decentralized asset management. Recently, the network announced the upcoming public token sale for GRG, its native token. Interested parties are invited to join the project’s whitelist that is currently open. This is also meant to accelerate the token sale process.
The token sale will be regulated and conducted as per the stipulations of the Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. It will be overseen by Rigo Investment Limited, the parent company to Rigoblock. Rigo Investment is based in Lugano, Switzerland.
The total supply of tokens during the crowdsale is set at 1,500,000 GRG. The hard cap for the entire token sale is set at $10 million. This is equivalent to 15% of the total amount of GRG tokens in circulation. GRG token holders will have access to the Rigoblock platforms as well as rights to participate in the blockchain’s Proof of Performance incentives mechanisms.
The primary use of the GRG utility token will be as a reward for the accomplishment of specific tasks within the Rigoblock blockchain network. Users will receive GRG tokens depending on the performance and value of their respective token pool. This means that the token pools will be run without fees to ensure that the rewards mechanism is fair.
The proceeds from the ICO will be used to fund the recurrent expenses of Rigoblock. Also, a portion of the money will be designated for the development of the blockchain protocol and developing apps for asset management.